Insuring your salon’s future (Nails Magazine June 2006)

Insuring Your Salon's Future - Nails Magazine June 2006, Volume 24, No. 5

Insuring Your Salon's Future - Nails Magazine June 2006, Volume 24, No. 5

Information supplied by Frank Monaco, Hairdressers Agency (a division of WH Brownyard Corporation),21 Maple Avenue, PO Box 9175, Bay Shore, NY 11706-9175, 800-645-5820, 631-666-5050,
www.brownyard.com
, info@brownyard.com.

* Why do salon owners need professional liability insurance?
Salon owners need professional liability insurance to protect themselves in the event of bodily injury or property damage occurring as a result of a professional service rendered in the salon. In many states, this coverage is required.

* Do salon renters need professional liability insurance?
Salon renters may be covered under the owner’s policy. If not, they need professional liability coverage for the same reason as an owner.

* Who does it protect?
Our professional liability policy for an owner covers all operators working in the salon unless they are excluded or unless the service they provide is excluded. Our professional liability policy on a renter covers only services rendered in full by the renter.

* How does it work?
The process involves the completion of an application by the applicant, its submission to this office by a licensed broker and our providing a premium quote. If acceptable to the applicant, we can bind coverage upon receipt of a net broker’s check.

* What does it cost?
The premium varies depending upon many factors.

* Are there any limits to it?
Policy limits of $300,000 up to $2,000,000 are available.

“Salon owners need professional liability insurance to protect themselves in the event of bodily injury or property damage occurring as a result of a professional service rendered in the salon,” says Frank Monaco, a spokesman for Hairdressers Agency, a division of Bay Shore, N.Y.- based insurance company WH Brownyard Corporation.

That doesn’t just apply to incidents that occur while someone is in the salon. That could also apply to an incident that takes place at a later time if the customer attributes its cause to something that happened in the salon.

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